Tracerco Expands Reservoir Technologies Business with New Laboratory in Canada

International oil and gas service provider,
Tracerco, part of the FTSE 100 company Johnson Matthey has commissioned a new
high-tech laboratory in Edmonton, Alberta allowing it to further enhance its
Reservoir Technologies offering across Canada.

The new laboratory, which has been established in
response to an increase in customer demand, will be equipped with state of the
art analytical equipment capable of ultra-high precision detection and
quantification of its intelligent tracer molecules in production fluid samples.

The high-tech laboratory will analyse
over 1,000 samples per month locally and will significantly improve turn-around
times to customers.

Paul Hewitt, Business Director for Reservoir
worldwide said, "The new site is another exciting expansion in our rapidly
growing worldwide network of reservoir chemical tracer laboratories”

"Previously produced fluid samples for our Canadian
customers have been shipped to our US based lab for analysis, adding several
days to sample turnaround. The new lab will help us eliminate time lost while
the samples are in transit, improving the service we can give to our customers.
In turn, this gives them the all-important reservoir and oil well
characterisation data to make decisions on drilling strategy much quicker.”

The new
laboratory is the second Tracerco has opened in the last six months having
previously expanded their network in Abu Dhabi and Oman in response to high
demand for their reservoir technologies in the region. It brings the total
number of laboratories that Tracerco operates worldwide to eight with another
five planned before the end of the year.

Tracerco
was the industry pioneer in developing intelligent tracer technology for
reservoir characterisation and continue to invest in cutting-edge tracer
research and development with their team of over 40 scientists and PHDs. The
technologies can be deployed without interruption to well production and allow
operators to gain a better understanding of reservoir fluid and gas movements
throughout their oil and gas reservoirs and near and within the wellbore.